S&P Global Ratings upgraded its long term rating to "AA-" from "A+" on Edison, N.J.-based Hackensack Meridian Health.
Concurrently, S&P assigned its "AA-" rating to HMH's proposed $300 million series 2018 bonds.
The upgrade and assignment are based on several factors, including HMH's large size, which leads to a wide range of clinical services, stable financial performance and solid strategic plans. S&P also acknowledged the health system's future risks as it opens its medical school and completes its capital spending program.
The outlook is stable, reflecting the health system's depth of clinical services and operations.